StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 ... 3 4 5 6 7 ... 30 >>Post Follow-up
chetron
2,817 posts
msg #60834
Ignore chetron
3/27/2008 9:16:55 PM

I HAVE TAKEN IT AS FAR AS I CAN. SORRY FOLKS.

WHAT DO YOU HAVE FOR THE TARGET OF THE S&P?




nikoschopen
2,824 posts
msg #60835
Ignore nikoschopen
3/27/2008 9:26:02 PM


Quote from maxreturn:

Niko, thanks for taking the time to do this. A quick observation that you already may be taking advantage of. Joe Ross fans will note that many nice 123 breakouts set up today on both the long and short side. The "squiggly" keltner channels seem to help "frame" these trades very well. At around 8:30 a short could have been taken at around 1345. At around 10:10 a long trade at around 1337. At around 12:20 another short trade at about 1342.50. At around 1:25 a long trade at around 1337.50.

Great observation! Such a strategy as 1-2-3 breakout is pretty damn similar to what I follow, although it ain't so simple to execute in practice. You will also notice that the Keltner is superimposed on top of the Bollinger band. This allows me to know in advance when the reversal is about to occur. Rarely do I ever use Keltner in isolation. At any rate, thanks for the comment and I encourage you to chip in ure 2-cents to help get the ball rolling, whether that be the S&P cash index or merely S&P-based ETFs.

nikoschopen
2,824 posts
msg #60836
Ignore nikoschopen
3/27/2008 9:34:50 PM

I HAVE TAKEN IT AS FAR AS I CAN. SORRY FOLKS.

Is that in reference to my MAX filter? If so, I think the guy basically wants to see the same filter you wrote for my UPTREND applied to the DOWNTREND, which means you merely need to flip the parameters from the former to the latter. No need for extra stretching.

WHAT DO YOU HAVE FOR THE TARGET OF THE S&P?

Over the long haul, it's gonna go far lower than 1320. I'm thinking we might reach the lower 1200 by next month.

nikoschopen
2,824 posts
msg #60852
Ignore nikoschopen
3/28/2008 12:04:13 PM



nikoschopen
2,824 posts
msg #60853
Ignore nikoschopen
3/28/2008 12:18:54 PM

It's currently trading near 1329 and the trend looks moderately bearish at the moment. We have already retested yesterday's low earlier in the session so we will most likely break that support should we retest it again.

nikoschopen
2,824 posts
msg #60854
Ignore nikoschopen
3/28/2008 12:47:27 PM



nikoschopen
2,824 posts
msg #60855
Ignore nikoschopen
3/28/2008 12:51:29 PM

Although it has yet to close, S&P pierced through yesterday's low which indicates that the trend in becoming increasingly bearish. As outlined above, we might be bobbing up and down in a downward channel.

nikoschopen
2,824 posts
msg #60857
Ignore nikoschopen
3/28/2008 1:37:05 PM

One of the most reliable points is the conflence point, especially if it lines up with either support or resistance.


S&P 500 15-minute

nikoschopen
2,824 posts
msg #60858
Ignore nikoschopen
3/28/2008 2:49:03 PM

Now that we've reached our target, S&P should get a bounce from here. Just don't expect a large bounce.



nikoschopen
2,824 posts
msg #60859
Ignore nikoschopen
3/28/2008 3:25:36 PM

I think we might have hit the low of the day. I'm personally going long here.


StockFetcher Forums · General Discussion · Intraday Trend Watch: S&P 500<< 1 ... 3 4 5 6 7 ... 30 >>Post Follow-up

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